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CANACCORD GENUITY GROUP INC. THROUGH ITS WEALTH MANAGEMENT BUSINESS IN THE UK, ANNOUNCES THE COMPLETION OF ITS ACQUISITION OF PUNTER SOUTHALL WEALTH
CANACCORD GENUITY GROUP INC. THROUGH ITS WEALTH MANAGEMENT BUSINESS IN THE UK, ANNOUNCES ...
About this update from Canaccord Genuity Group Inc.
[{"type":"text","content":"\n \n \n \n CANACCORD GENUITY GROUP INC. THROUGH ITS WEALTH MANAGEMENT BUSINESS IN THE UK, ANNOUNCES THE COMPLETION OF ITS ACQUISITION OF PUNTER SOUTHALL WEALTH\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n and\n \n LONDON\n \n \n ,\n \n \n May 31, 2022\n \n \n /CNW/ - Canaccord Genuity Group Inc. (TSX: CF) (the \"Company\") is pleased to announce that through its wealth management business in the UK and Crown Dependencies (\"CGWM UK\"), it has completed its previously announced acquisition of Punter Southall Wealth Limited (\"PSW\").\n \n \n With a strong track record of successfully integrating businesses and clients, CGWM UK expects to achieve tangible revenue and cost synergies with a clear pathway to continued growth. PSW currently has approximately £4.8 billion (\n \n C$7.9 billion\n \n ) in client assets and generated annual revenue of approximately £34.7 million (\n \n C$60.0 million\n \n ) in the year ended\n \n December 31, 2021\n \n .\n \n \n \n David Esfandi\n \n , Chief Executive Officer of CGWM UK said: \"We are so pleased to welcome the PSW team which brings a strong and complementary fit for our advice-led offering and builds on our footprint in the UK, including an expanded presence in\n \n Scotland\n \n . The addition of PSW will enhance our capabilities and will strengthen our model-based product and service offering to address the increasingly complex wealth management and financial planning needs of our clients.\"\n \n \n \n John Howard-Smith\n \n , Chief Executive Officer of Punter\n \n Southall Wealth\n \n , added: \"On behalf of the Punter\n \n Southall Wealth\n \n team, we are very pleased to be joining our new colleagues at Canaccord Genuity Wealth Management. We look forward to working closely together to grow our integrated wealth management business and advance our product and service offering for our valued clients.\"\n \n \n As part of CGWM UK, the investment professionals, financial planners, and clients of PSW will also have access to the broad range of resources pro...